Trade war: China has announced tariffs on imports of US products up to 60 billion USD

China the intention to impose tariffs on US products valued at $ 60,000 millionThe Finance Ministry said Monday in response to Washington's actions in the trade dispute between the two countries.

The Asian giant said in a statement that new tariffs on US products will come into effect on June 1. will increase from 5% to 25% and will be applied on a total of 5 140 products.

Rapidly, global markets reacted to failures. The Dow Jones futures on the New York Stock Exchange fell nearly 2%, an hour after the opening of Wall Street.

Just a few hours ago, the President Donald Trump had warned China that he "should not retaliate," since the situation "would only worsen". However, Beijing continued with the decision.

"China will never yield to external pressure", said a spokesman for the Ministry of Foreign Affairs.

White House economic advisor Larry Kudlow admitted Sunday that consumers and businesses in the United States were affected by tariffs. "Both parties will pay," he told reporters Fox News.

(With information from AFP and Reuters)